Business plan

It is imperative that applicants for commercial properties give us a detailed business plan showing an understanding of the business type, the market and their goals.

We also need to be satisfied that the applicant has the relevant experience and training to successfully operate a business of this type.

Finally, we must be provided with a detailed Projected Cashflow Analysis and Profit & Loss Projections for the first years trading.

The following questions should be addressed in your business plan:

  1. Describe the products you make or the services you provide.
  2. Describe the objectives of the business.
  3. Describe trends in the market and/or the economic climate affecting your business.
  4. Why you have chosen self-employment.
  5. Give details of your knowledge and experience and also that of any other personnel involved in the business (attach and up to date CV).
  6. Have you undertaken any training in connection with your business idea?
  7. Have any training needs been identified?
  8. Who do you see as your customers? Describe the market research you have carried out and provide samples.
  9. What indications have you got that they will buy from you?
  10. Describe how you plan to sell your product or service and how you will advertise and/or promote your business.
  11. Provide details of any current competition ie strengths and weaknesses.
  12. Provide details of your own business's strengths and weaknesses and unique selling points.
  13. Explain how you think you can achieve success in this market and better your competitors.
  14. Provide a projected cash flow detailing monthly figures for income and expenditure together with a projected profit and loss account.
  15. Explain how you arrived at the monthly sales figures identified in your cash flow.
  16. Give details of your business premises (eg size, location, access, security).
  17. Give details of all plant, machinery, equipment and vehicles required to operate your business: a) What do you already own? b) What do you need to buy? (give approximate costs).
  18. Give details of all plant, machinery, equipment and vehicles required to operate your business: a) what do you already own? b) what do you need to buy? (please give approximate costs).
  19. Provide a summary of business costs ie materials, vehicle costs, telephone, insurance, stationery and printing, National Insurance, wages, personal drawings etc.
  20. Have you applied for any other financial assistance? Please give details.
  21. Describe the considerations you have made in relation to the Equality Act 2010.